Given the resounding success of HIPs the government has forged ahead with plans to introduce EPCs for Landlords and the deadline for compliance by Landlords to have an EPC in place looms on 1 October 2008.
Chapter and verse on EPCs can be found at Directgov and there are a number of issues for having one/not having one and they only apply to new tenancies after 1 October 2008, but it is likely that the only real question is what happens if I don't bother getting one?!
Well, apparently the legislation states (I did start to read it....) that if you do not have an EPC you could be reported to the Local Trading Standards and even the Office of Fair Trading. These authorities have been given a range of powers including loss of the right to operate (whatever that means in this context) and a fine up to £5,000.
If HIPs (as voted by you) for residential sales are a waste of time, then I doubt EPCs for landlords will even get as far as becoming a waste of time.